Bajaj Finance vs Bank of Baroda vs Chola at a glance
| Detail | Bajaj Finance | Bank of Baroda | Chola |
|---|---|---|---|
| Loan provider type | NBFC | Public sector bank | NBFC |
| Legal name | Bajaj Finance Ltd | Bank of Baroda | Cholamandalam Investment and Finance Company Ltd (Chola) |
| Vehicle loans with a published rate | Car loan, Two-wheeler loan, Used car loan, Three-wheeler loan | Car loan, Two-wheeler loan, Used car loan, Electric car loan, Tractor loan | Car loan, Two-wheeler loan, Used car loan, Three-wheeler loan, Tractor loan |
| Car loan: published rate | Up to 12.25% p.a. | Floating 7.60% - 11.30%; fixed 8.50% - 11.20% | 9% - 20% p.a.car; MUV 9% - 20% |
| Car loan: maximum tenure | 12-96 months | 84 months | Not published |
| Two-wheeler loan: published rate | Up to 24.25% p.a. | Floating from 13.60%; fixed from 13.65% | 15% - 28% p.a. |
| Two-wheeler loan: maximum tenure | Not published | 60 months | Not published |
| Used car loan: published rate | 10% - 18.25% p.a. | Floating 10.20% - 12.95%; fixed 11.90% - 14.65% | 15% - 28% p.a.MUV 14% - 28% |
| Used car loan: maximum tenure | 12-84 months | 60 months (vehicle age + tenure max 96 months) | 5 years |
| Official website | bajajfinserv.in | bankofbaroda.bank.in | cholamandalam.com |
Bajaj Finance vs Bank of Baroda vs Chola car loan: rate, fees and tenure
Starting car loan rates as published: Bank of Baroda from 7.60% and Chola from 9%. Bank of Baroda is lower at the starting rate, but the top of each range and your own credit profile decide what you are actually offered. Bajaj Finance lists the longer maximum tenure (12-96 months).
| Detail | Bajaj Finance | Bank of Baroda | Chola |
|---|---|---|---|
| Product | New Car Finance | Baroda Car Loan | New Car Loan |
| Published rate | Up to 12.25% p.a. | Floating 7.60% - 11.30%; fixed 8.50% - 11.20% | 9% - 20% p.a.car; MUV 9% - 20% |
| Rate basis | Not published | BRLLR-linked (floating) or fixed | Fixed |
| Maximum tenure | 12-96 months | 84 months | Not published |
| Maximum funding | Up to 100% of on-road price; loans up to Rs 10 crore | Up to 90% of on-road price; up to Rs 300 lakh (individuals) | Up to 100% on-road |
| Processing fee | Up to 2.95% of loan amount (incl. taxes) | Rs 1,500 + GST (up to Rs 10 lakh); Rs 2,000 + GST (above) | 0.5% - 2.5% + sourcing fee Rs 1,000 - 2,500 |
| Pre-closure / prepayment | Foreclosure up to 4.72% (incl. taxes) of outstanding, after 24 months with no bounces; part-prepayment up to 4.72% of principal prepaid | Floating: nil for individuals; fixed: nil up to Rs 40,000 within 2 years, else 2% + GST | Full closure: 5% of principal outstanding (7-12 months from agreement), 4% after 12 months, plus GST |
| Other terms published | Not published |
|
|
| Official source | bajajfinserv.in bajajfinserv.in bajajfinserv.in | bankofbaroda.bank.in | cholamandalam.com files.cholamandalam.com |
EMI illustration: ₹10 lakh over 60 months
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| Bank of Baroda | 7.60% | ₹20,086 | ₹2,05,130 | ₹12,05,130 |
| Chola | 9% | ₹20,758 | ₹2,45,501 | ₹12,45,501 |
Illustration only, at each loan provider's lowest published rate. It leaves out processing fees, GST, insurance and any other charges, and it is not an offer. Your approved rate may be higher.
Monthly EMI at other loan amounts (60 months)
| Loan amount | Bank of Baroda (7.60%) | Chola (9%) |
|---|---|---|
| ₹5 lakh | ₹10,043 | ₹10,379 |
| ₹10 lakh | ₹20,086 | ₹20,758 |
| ₹15 lakh | ₹30,128 | ₹31,138 |
| ₹20 lakh | ₹40,171 | ₹41,517 |
Read the full guide: Car loan · EMI calculator
Bajaj Finance vs Bank of Baroda vs Chola two-wheeler loan: rate, fees and tenure
Starting two-wheeler loan rates as published: Bank of Baroda from 13.60% and Chola from 15%. Bank of Baroda is lower at the starting rate, but the top of each range and your own credit profile decide what you are actually offered.
| Detail | Bajaj Finance | Bank of Baroda | Chola |
|---|---|---|---|
| Product | Two-Wheeler Finance | Baroda Two Wheeler Loan | Two Wheeler Loan (new only) |
| Published rate | Up to 24.25% p.a. | Floating from 13.60%; fixed from 13.65% | 15% - 28% p.a. |
| Rate basis | Not published | BRLLR-linked (floating) or 1-year MCLR (fixed) | Fixed |
| Maximum tenure | Not published | 60 months | Not published |
| Maximum funding | Up to 100% of on-road price (promotional text) | Up to Rs 10 lakh | Up to 100% of bike value |
| Processing fee | Up to 5% of loan amount (incl. taxes) | 2% of loan (min Rs 250 + GST) | 0.75% - 5% + sourcing fee Rs 500 - 2,500 |
| Pre-closure / prepayment | Foreclosure up to 4.72% (incl. taxes) of outstanding; part-prepayment up to 4.72% of principal prepaid | Floating: nil; fixed: 2% + GST within 2 years | Full closure: 5% of principal outstanding (7-12 months from agreement), 4% after 12 months, plus GST |
| Other terms published |
|
|
|
| Official source | bajajfinserv.in bajajfinserv.in | bankofbaroda.bank.in | cholamandalam.com files.cholamandalam.com |
EMI illustration: ₹1 lakh over 36 months
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| Bank of Baroda | 13.60% | ₹3,398 | ₹22,341 | ₹1,22,341 |
| Chola | 15% | ₹3,467 | ₹24,795 | ₹1,24,795 |
Illustration only, at each loan provider's lowest published rate. It leaves out processing fees, GST, insurance and any other charges, and it is not an offer. Your approved rate may be higher.
Monthly EMI at other loan amounts (36 months)
| Loan amount | Bank of Baroda (13.60%) | Chola (15%) |
|---|---|---|
| ₹0.5 lakh | ₹1,699 | ₹1,733 |
| ₹1 lakh | ₹3,398 | ₹3,467 |
| ₹1.5 lakh | ₹5,098 | ₹5,200 |
Read the full guide: Two-wheeler loan · EMI calculator
Bajaj Finance vs Bank of Baroda vs Chola used car loan: rate, fees and tenure
Starting used car loan rates as published: Bajaj Finance from 10%, Bank of Baroda from 10.20% and Chola from 15%. Bajaj Finance is lower at the starting rate, but the top of each range and your own credit profile decide what you are actually offered. Bajaj Finance lists the longer maximum tenure (12-84 months).
| Detail | Bajaj Finance | Bank of Baroda | Chola |
|---|---|---|---|
| Product | Used Car Finance | Baroda Auto Loan for Pre-owned Car | Used Car Loan |
| Published rate | 10% - 18.25% p.a. | Floating 10.20% - 12.95%; fixed 11.90% - 14.65% | 15% - 28% p.a.MUV 14% - 28% |
| Rate basis | Not published | BRLLR-linked (floating) or 1-year MCLR (fixed) | Fixed |
| Maximum tenure | 12-84 months | 60 months (vehicle age + tenure max 96 months) | 5 years |
| Maximum funding | Rs 1 lakh to Rs 2.5 crore | Up to 75% of market value; max Rs 50 lakh | Up to 100%* |
| Processing fee | Up to 2.95% of loan amount (incl. taxes) | 0.50% of loan + GST (min Rs 2,500, max Rs 10,000) | 0.5% - 3.25% + sourcing fee Rs 1,000 - 2,500 |
| Pre-closure / prepayment | Foreclosure up to 4.72% (incl. taxes) of outstanding; part-prepayment up to 4.72% of principal prepaid | Floating: nil; fixed: 2% + GST within 2 years above Rs 40,000 | Full closure: 5% of principal outstanding (7-12 months from agreement), 4% after 12 months, plus GST |
| Other terms published | Not published | Not published |
|
| Official source | bajajfinserv.in bajajfinserv.in | bankofbaroda.bank.in | cholamandalam.com files.cholamandalam.com |
EMI illustration: ₹5 lakh over 48 months
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| Bajaj Finance | 10% | ₹12,681 | ₹1,08,702 | ₹6,08,702 |
| Bank of Baroda | 10.20% | ₹12,729 | ₹1,11,010 | ₹6,11,010 |
| Chola | 15% | ₹13,915 | ₹1,67,938 | ₹6,67,938 |
Illustration only, at each loan provider's lowest published rate. It leaves out processing fees, GST, insurance and any other charges, and it is not an offer. Your approved rate may be higher.
Monthly EMI at other loan amounts (48 months)
| Loan amount | Bajaj Finance (10%) | Bank of Baroda (10.20%) | Chola (15%) |
|---|---|---|---|
| ₹3 lakh | ₹7,609 | ₹7,638 | ₹8,349 |
| ₹5 lakh | ₹12,681 | ₹12,729 | ₹13,915 |
| ₹8 lakh | ₹20,290 | ₹20,367 | ₹22,265 |
Read the full guide: Used car loan · EMI calculator
Bajaj Finance vs Bank of Baroda vs Chola electric car loan: rate, fees and tenure
Only Bank of Baroda publishes a rate for this product with a stated starting figure, so a like-for-like ranking is not possible. Bajaj Finance and Chola do not publish an electric car loan rate on their website, so none is shown.
| Detail | Bajaj Finance | Bank of Baroda | Chola |
|---|---|---|---|
| Product | Not published | bob Green Wheel | Not published |
| Published rate | Not published | Floating 7.60% - 11.15%; fixed 8.50% - 11.05% | Not published |
| Rate basis | Not published | BRLLR-linked (floating) or fixed | Not published |
| Maximum tenure | Not published | 84 months (96 months for salaried with CIBIL 726+) | Not published |
| Maximum funding | Not published | Up to 90%; max Rs 300 lakh (individuals) | Not published |
| Processing fee | Not published | Rs 750 + GST (up to Rs 10 lakh); Rs 1,000 + GST (above) - 50% concession | Not published |
| Pre-closure / prepayment | Not published | Floating: nil for individuals; fixed: 2% + GST within 2 years above Rs 40,000 | Not published |
| Other terms published | Not published |
| Not published |
| Official source | Not published | bankofbaroda.bank.in | Not published |
Read the full guide: Electric car loan
Bajaj Finance vs Bank of Baroda vs Chola three-wheeler loan: rate, fees and tenure
Only Bajaj Finance and Chola publish a rate for this product with a stated starting figure, so a like-for-like ranking is not possible. Bank of Baroda does not publish a three-wheeler loan rate on its website, so none is shown.
| Detail | Bajaj Finance | Bank of Baroda | Chola |
|---|---|---|---|
| Product | Three-Wheeler Finance | Not published | Three Wheeler Loans |
| Published rate | Up to 27.25% p.a. | Not published | New non-EV 21% - 28%; used non-EV 25% - 28% p.a. |
| Rate basis | Not published | Not published | Fixed |
| Processing fee | Up to 5% of loan amount (incl. taxes) | Not published | New 1.5% - 3.5%; used 1% - 2.5% + sourcing fee |
| Pre-closure / prepayment | Foreclosure up to 4.72% (incl. taxes) of outstanding; part-prepayment up to 4.72% of principal prepaid | Not published | Full closure: 5% of principal outstanding (7-12 months from agreement), 4% after 12 months, plus GST |
| Other terms published | Not published | Not published |
|
| Official source | bajajfinserv.in | Not published | cholamandalam.com files.cholamandalam.com |
Read the full guide: Three-wheeler loan
Bajaj Finance vs Bank of Baroda vs Chola tractor loan: rate, fees and tenure
Starting tractor loan rates as published: Bank of Baroda from 12.25% and Chola from 12%. Chola is lower at the starting rate, but the top of each range and your own credit profile decide what you are actually offered. Bajaj Finance does not publish a tractor loan rate on its website, so none is shown.
| Detail | Bajaj Finance | Bank of Baroda | Chola |
|---|---|---|---|
| Product | New Tractor Loan (also Used Tractor Loan, Loan Against Tractor) | Bank of Baroda New Scheme for Tractor | Tractor & Farm Equipment Loans |
| Published rate | Not published | 12.25% - 14.50%by LTV | New 12% - 28%; used 17% - 28% p.a. |
| Rate basis | Not published | Fixed | Fixed |
| Maximum tenure | Not published | 72 months (60 months for Tatkal) | Not published |
| Maximum funding | Not published | Up to 85% LTV (agri use); 80% agri-commercial; 70% Tatkal | Not published |
| Processing fee | Not published | 1% of loan amount | New 0.25% - 2%; used 0.75% - 3.25% + sourcing fee |
| Pre-closure / prepayment | Not published | Not published | Full closure: 5% of principal outstanding (7-12 months from agreement), 4% after 12 months, plus GST |
| Other terms published |
|
|
|
| Official source | bajajfinserv.in bajajfinserv.in | bankofbaroda.bank.in | cholamandalam.com files.cholamandalam.com |
EMI illustration: ₹8 lakh over 60 months
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| Bank of Baroda | 12.25% | ₹17,897 | ₹2,73,807 | ₹10,73,807 |
| Chola | 12% | ₹17,796 | ₹2,67,733 | ₹10,67,733 |
Illustration only, at each loan provider's lowest published rate. It leaves out processing fees, GST, insurance and any other charges, and it is not an offer. Your approved rate may be higher.
Monthly EMI at other loan amounts (60 months)
| Loan amount | Bank of Baroda (12.25%) | Chola (12%) |
|---|---|---|
| ₹5 lakh | ₹11,185 | ₹11,122 |
| ₹8 lakh | ₹17,897 | ₹17,796 |
| ₹12 lakh | ₹26,845 | ₹26,693 |
Read the full guide: Tractor loan
Which is better: Bajaj Finance, Bank of Baroda or Chola?
No loan provider is best for everyone. This is how the published figures split, product by product.
- Car loan, lower starting rate: Bank of Baroda (7.60%) versus 9% at Chola.
- Two-wheeler loan, lower starting rate: Bank of Baroda (13.60%) versus 15% at Chola.
- Used car loan, lower starting rate: Bajaj Finance (10%) versus 10.20% at Bank of Baroda and 15% at Chola.
- Car loan, longer maximum tenure: Bajaj Finance (12-96 months). A longer tenure lowers the EMI but raises total interest.
- Used car loan, longer maximum tenure: Bajaj Finance (12-84 months). A longer tenure lowers the EMI but raises total interest.
Pick on total cost, not the headline rate: ask each loan provider for the Key Fact Statement and compare the APR and total repayable amount. A low rate with a high processing fee can cost more than a slightly higher rate with no fee.
Bank type and how each loan provider sets its rate
Bajaj Finance and Chola are nbfcs and Bank of Baroda is a public sector bank.
What the loan providers' own pages say about how their rates are set:
- Bajaj Finance publishes only a ceiling for its car loan (Up to 12.25% p.a.), so it cannot be ranked on a starting rate.
- Bajaj Finance publishes only a ceiling for its two-wheeler loan (Up to 24.25% p.a.), so it cannot be ranked on a starting rate.
- Bajaj Finance publishes only a ceiling for its three-wheeler loan (Up to 27.25% p.a.), so it cannot be ranked on a starting rate.
- Bank of Baroda car loan: BRLLR-linked (floating) or fixed.
- Bank of Baroda two-wheeler loan: BRLLR-linked (floating) or 1-year MCLR (fixed).
- Bank of Baroda used car loan: BRLLR-linked (floating) or 1-year MCLR (fixed).
- Bank of Baroda electric car loan: BRLLR-linked (floating) or fixed.
- Bank of Baroda tractor loan: Fixed.
Banks and non-banking finance companies (NBFCs) publish rates in different ways: some give a range, some only a starting rate and some only a maximum. That is why this page compares like with like and marks every gap as not published instead of guessing.
About Bajaj Finance, Bank of Baroda and Chola
Bajaj Finance
NBFC · Bajaj Finance Ltd
Large diversified consumer-lending NBFC; vehicle finance alongside personal, consumer durable, home and business loans
Lowest published starting rate: 10% (Used car loan)
Bank of Baroda
Public sector bank
Public sector bank offering both fixed and BRLLR-linked floating vehicle loans, with a dedicated EV car loan (bob Green Wheel) and agri tractor schemes.
Lowest published starting rate: 7.60% (Car loan)
Chola
NBFC · Cholamandalam Investment and Finance Company Ltd (Chola)
Murugappa Group's vehicle-finance-led NBFC with a large rural and semi-urban branch network
Lowest published starting rate: 9% (Car loan)
What to check before you choose a vehicle loan
- Ask for the Key Fact Statement (KFS). RBI requires loan providers to give you one before you sign, showing the interest rate, all fees, the APR and the total amount you will repay.
- Compare APR, not the headline rate. Processing fee, documentation charges and insurance change the real cost.
- Ask about pre-closure charges. Fixed-rate vehicle loans often carry charges for paying early; floating-rate loans to individuals cannot.
- Check what is bundled. Insurance, extended warranty or accessories added to the loan raise the amount you pay interest on. You are free to buy insurance elsewhere.
- Confirm the hypothecation. The loan provider's name is noted on the registration certificate. After the last EMI, collect the NOC and have it removed at the RTO.
Terms used on this page
Plain meanings of the terms this comparison uses.
Starting rate: The lowest rate a loan provider advertises for a product. Most borrowers are offered a higher rate, because the final rate depends on credit score, income, employer and loan amount.
APR: Annual percentage rate. It adds the processing fee and other charges to the interest rate, so it shows the yearly cost of the loan better than the interest rate alone.
Key Fact Statement: A short summary the loan provider gives you before you sign. It lists the interest rate, every fee, the APR and the total amount you will repay. RBI requires it for retail loans.
Floating rate and repo rate: A floating rate moves with a benchmark, and for banks that is usually the RBI repo rate, the rate at which RBI lends to banks. A fixed rate stays the same for the period you agree.
Processing fee: A one-time charge for handling the application. It is usually a percentage of the loan amount plus GST, and it is often deducted before the money reaches you.
Credit score: A number from 300 to 900 that shows how you have repaid past loans and cards. A higher score usually gets you a lower rate.
Sources, method and last check
Every figure above comes from the loan provider's own website. We checked them on 4 October 2026 and list the pages used.
- Bajaj Finance: bajajfinserv.in/new-car-finance-interest-rates-and-charges · bajajfinserv.in/new-car-loan · bajajfinserv.in/all-fees-and-charges · bajajfinserv.in/two-wheeler-loan-interest-rates · bajajfinserv.in/used-car-loan · bajajfinserv.in/tractor-loan
- Bank of Baroda: bankofbaroda.bank.in/loans/vehicle-loan/baroda-car-loan · bankofbaroda.bank.in/loans/vehicle-loan/baroda-two-wheeler-loan · bankofbaroda.bank.in/loans/vehicle-loan/baroda-auto-loan-for-pre-owned-car · bankofbaroda.bank.in/loans/vehicle-loan/bob-green-wheel · bankofbaroda.bank.in/business-banking/rural-and-agri/loans-and-advances/new-scheme-for-tractor
- Chola: cholamandalam.com/get-new-car-loans · files.cholamandalam.com/files/Interest+Rate+Policy+-+Mar2026.pdf · cholamandalam.com/get-two-wheeler-loans · cholamandalam.com/get-used-car-loans · cholamandalam.com/get-three-wheeler-loans · cholamandalam.com/get-tractor-loans
Method: we list only figures we could find on the loan provider's official pages. A blank means the loan provider does not publish that figure, and we never estimate one. Rankings use the published starting rate and published maximum tenure only. Read our editorial policy, how we make money and tell us about an error.
More loan provider comparisons
Bajaj Finance compared with other loan providers
Bank of Baroda compared with other loan providers
Chola compared with other loan providers
Head-to-head pages for these three loan providers
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Frequently asked questions
Which is better for a car loan: Bajaj Finance, Bank of Baroda or Chola?
Bank of Baroda has the lower published starting car loan rate at 7.60%, against 9% at Chola. Bajaj Finance allows the longer maximum tenure (12-96 months). A starting rate is the best case, not a typical offer, so confirm the annual percentage rate (APR) and total repayable amount in each loan provider's Key Fact Statement. Figures are as published on the loan providers' own websites and checked 4 October 2026. The better choice depends on your profile, the loan amount and the fees in your offer letter.
Which has the lower car loan interest rate: Bajaj Finance, Bank of Baroda or Chola?
Bank of Baroda has the lower published starting rate. Published starting rates: Bank of Baroda 7.60% and Chola 9% (checked 4 October 2026). Your actual rate depends on your credit profile and the loan provider's approval.
What is the processing fee on a car loan at Bajaj Finance, Bank of Baroda and Chola?
Bajaj Finance: Up to 2.95% of loan amount (incl. taxes). Bank of Baroda: Rs 1,500 + GST (up to Rs 10 lakh); Rs 2,000 + GST (above). Chola: 0.5% - 2.5% + sourcing fee Rs 1,000 - 2,500. Fees can change and GST is usually extra, so check the Key Fact Statement.
What is the maximum car loan tenure at Bajaj Finance, Bank of Baroda and Chola?
Bajaj Finance: 12-96 months. Bank of Baroda: 84 months. Chola: not published.
What is the EMI on a ₹10 lakh car loan at Bajaj Finance, Bank of Baroda and Chola?
Over 60 months at each loan provider's lowest published rate: Bank of Baroda about ₹20,086 a month at 7.60%; Chola about ₹20,758 a month at 9%. This is an illustration that leaves out fees, GST and insurance. Your offered rate may be higher.
How much of the vehicle price can I borrow on a car loan from Bajaj Finance, Bank of Baroda and Chola?
Bajaj Finance: Up to 100% of on-road price; loans up to Rs 10 crore. Bank of Baroda: Up to 90% of on-road price; up to Rs 300 lakh (individuals). Chola: Up to 100% on-road. Funding is usually profile-based, so the loan provider decides the final amount.
What other terms do Bajaj Finance, Bank of Baroda and Chola publish for a car loan?
Bank of Baroda: Interest on daily reducing balance; Rs 500 + GST fee for govt/PSU employees; bob Digital Car Loan online variant. Chola: In-principle sanction at customer's place; Low down payment. Check each loan provider's page for eligibility and documents before you apply.
Can I prepay or foreclose a car loan early at Bajaj Finance, Bank of Baroda and Chola?
Bajaj Finance: Foreclosure up to 4.72% (incl. taxes) of outstanding, after 24 months with no bounces; part-prepayment up to 4.72% of principal prepaid. Bank of Baroda: Floating: nil for individuals; fixed: nil up to Rs 40,000 within 2 years, else 2% + GST. Chola: Full closure: 5% of principal outstanding (7-12 months from agreement), 4% after 12 months, plus GST. Floating-rate loans to individuals cannot carry pre-closure charges; fixed-rate loans often do.
Which vehicle loans do Bajaj Finance, Bank of Baroda and Chola publish rates for?
Bajaj Finance: car loan, two-wheeler loan, used car loan, three-wheeler loan. Bank of Baroda: car loan, two-wheeler loan, used car loan, electric car loan, tractor loan. Chola: car loan, two-wheeler loan, used car loan, three-wheeler loan, tractor loan. Based on each loan provider's own website, checked 4 October 2026.
Are the rates on this page the rate I will get?
No. They are the rates the loan providers publish, usually a range or a starting rate. Your approved rate depends on your credit score, income, loan amount, tenure and vehicle. Always read the Key Fact Statement before you sign.
Does KhatuLoans lend money or charge for this comparison?
KhatuLoans is not a loan provider. The loan provider decides approval, rate and terms. Our comparisons are free to read, and we are not paid by the loan providers named here to rank them. See how we make money on our advertiser disclosure page.
KhatuLoans is not a loan provider and is not paid by the loan providers named here to rank them. Rates, fees and prices change; always confirm with the loan provider and dealer. Read our editorial policy and how we make money.